Recently, there has been a concern over the short supply of a group of elements called 'rare earth metals'. Wh

Question

Recently, there has been a concern over the short supply of a group of elements called 'rare earth metals'. Why?
1. China, which is the largest producer of these elements, has imposed some restrictions on their export.
2. Other than China, Australia, Canada and Chile, these elements are not found in any country.
3. Rare earth metals are essential for the manufacture of various kinds of electronic items and there is a growing demand for these elements.
Which of the statements given above is/are correct?

Accepted Answer

The correct answer is C because statements 1 and 3 are factual while statement 2 is incorrect.

Statement 1 is correct because China produces over 70 percent of the worlds rare earth metals and has historically used export quotas and restrictions to control global supply and support its domestic industries.

Statement 2 is incorrect because rare earth elements are not actually rare in terms of their presence in the earths crust. They are found in many countries including India, the United States, Brazil, Vietnam, and South Africa. The difficulty lies in finding them in concentrations that are economically viable to mine and process.

Statement 3 is correct because these metals possess unique magnetic and optical properties. They are essential for high tech manufacturing, including smartphones, electric vehicle motors, wind turbines, and defense equipment, leading to a massive increase in global demand.

Answer

1 only

Answer

2 and 3 only

Answer

1 and 3 only

Answer

1, 2 and 3

Explanation

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